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Board statement on Interest Rates

The Board of TMCU decided to support the needs of depositors by holding rates steady, at the Board meeting held 26th June 2019.  

Loan rate reductions can only take place with a corresponding reduction in savings rates, and the Board held the view that members with deposits in the Credit Union, particularly self funded retirees needed their interests balanced in a reducing rate environment.  

The Board would reconsider that balance if further cash rate reductions take place in the months ahead.

 

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